BML Posts Strong Profits & Reaffirms Commitment to Invest MVR 300 Million in 2017

Bank of Maldives has finished 2016 with a strong last quarter and has reaffirmed its commitment to invest MVR 300 million this year to further expand its presence and support local communities.

*Profit After Tax (PAT) in Q4 2016 was MVR 281.8 million, up 53% from the previous quarter. Business volumes were healthy across all key sectors and loan book quality was very robust. Capital and liquidity ratios finished the quarter well in excess of regulatory requirements. Unaudited figures for the full year show PAT of MVR 1.03 billion which is 56% ahead of 2015 and represents the Bank’s best ever performance.

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Emphasizing that BML is re-investing its profits in local communities, CEO & Managing Director, Andrew Healy commented “The very solid business performance throughout 2016, and particularly the further strengthening of our loan portfolio, gives us a good platform to invest even more in the communities we serve. We will, as promised, invest MVR 300 million/USD 20 million over the course of 2017. This investment will include 10 new CSR projects and further growth in our branch, business center and ATM network which will benefit at least 22 different islands and create 150 new jobs in the process.”

*unaudited financials may be subject to change

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